Toss Payments "Quick Account Transfer" Surpasses 6.5 Million Users in Two Years Since Launch

Cumulative Transaction Volume Reaches 650 Billion Won...
22,000 Merchants Now Affiliated

Toss Payments announced on April 24 that the cumulative number of users of its simple account transfer service, "Quick Account Transfer," has surpassed 6.5 million just two years after its launch.

Toss Payments explained that Quick Account Transfer has established itself as a major payment method in sectors such as commerce, content, and travel·aviation. The cumulative transaction amount has reached 650 billion won, and the total number of affiliated merchants stands at 22,000.

Quick Account Transfer offers a convenient payment experience through an open banking-based transaction method. While real-time account transfers require a digital certificate, Quick Account Transfer allows users to register their accounts without installing a certificate. Once an account is registered, payments can be made at any Toss Payments Quick Account Transfer-affiliated merchant using a six-digit PIN code. Additionally, cash receipts are automatically issued to the registered mobile phone number.

The service charges lower fees than credit cards. The payment success rate is 87.2%, which is 37.6 percentage points higher than real-time account transfers. The reuse rate is 2.8 times higher. Integration resources required for implementing the payment module are also lower compared to other payment methods, making it easy for small and medium-sized businesses with limited development staff to adopt the service.

It also provides a high level of security. Through its Fraud Detection System (FDS), the service automatically blocks payments or requires additional authentication in the event of suspicious transactions, ensuring robust safety measures. It also supports payment deposit (escrow) services. This creates a reliable payment environment for both merchants and consumers.

A Toss Payments representative stated, "Quick Account Transfer is expanding its presence as a B2B payment method based on its effectiveness in improving conversion rates and reducing fees," and added, "We will continue to enhance the service so that even more merchants and consumers can use Quick Account Transfer."